Simple Reminders to Think More Rigorously, Pt. I

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Averages hide variation.

“Growing intra-elite inequality typically results in the distribution of incomes becoming increasingly more right-skewed. In more extreme cases, however, it is also possible that the distribution of incomes actually becomes bi-modal. That is, it develops two humps, one for the winners and another one for the losers, with very few individuals in between.”  – Peter Turchin, population biologist

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